China Aluminum (02600) is now down more than 4%. As of press release, it is down 4.37% to HK$5.03, with a turnover of HK$161 million.
The Zhitong Finance App learned that China Aluminum (02600) is now down more than 4%. As of press release, it is down 4.37% to HK$5.03, with a turnover of HK$161 million.
According to the news, on April 12, the US and the UK announced new trade restrictions on Russia. The London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) said they would suspend deliveries of Russian aluminum products from April 13, and Russian aluminum produced before April 13 can still be delivered. Tongguan Jinyuan Futures pointed out that the sanctions have raised market concerns about Russian metals pouring into the domestic market, and the pressure is higher than that of Shanghai Aluminum.
Dongwu Securities pointed out that restricting Russian aluminum delivery will increase the volatility of aluminum prices in the short term, and Lunan aluminum may show a trend of rising and then falling; Russia's overall influence on world aluminum supply is limited, and its trade focus is shifting from Europe to Asia; Russian raw aluminum can enter circulation in the British and American markets after processing, and China, as a major aluminum processing country, will fully benefit. The bank also warned of the risk that domestic electrolytic aluminum currently maintains a tight balance between supply and demand. If Rusal enters the Chinese market in large numbers, causing serious oversupply, it will damage the entire industry ecology.